Vulnerable Customers in Financial Services
Learn what makes people vulnerable, what the signs and characteristics of vulnerability are in specific target markets and customer bases, and how to provide an appropriate level of care to vulnerable customers.
Description
A vulnerable customer is someone who, due to their personal circumstances, is especially susceptible to harm - particularly when a firm is not acting with appropriate levels of care. The Financial Conduct Authority expects firms to demonstrate how they are ensuring vulnerable customers are treated fairly. This includes recording and monitoring to ensure the service provided to vulnerable customers is as good as those provided to other customers.
This course teaches users what makes people vulnerable, what the signs and characteristics of vulnerability are in specific target markets and customer bases, and how to provide an appropriate level of care to vulnerable customers.
Features
- How to identify vulnerable customers and understand their needs
- What one's obligations are to ensure vulnerable customers are treated fairly
- How to meet obligations under the Principles for Businesses
- Best practice for dealing with vulnerable clients in a variety of situations